DEB sold Grand Renaissance Dam bonds worth half a billion birr in six months
Addis Ababa, 12 February 2014 (WIC) -The Ethiopian Development Bank (DEB) said it has sold Grand Renaissance Dam bonds worth half a billion birr in the first half of this Ethiopian budget year.
Bank Promotion and Public Relations Process Manager, Berhanu Taye, told WIC the bank managed to sell over 541.75 million birr worth bonds in the reported period.
In addition to improving the culture of saving of the public, the selling of the bonds would contribute its share towards backing the construction of the Grand Ethiopian Renaissance Dam (GERD).
In a related development, the bank disbursed 3.8 billion birr loan during the past six months. Its plan was to provide 5.3 billion birr, Berhanu indicated.
He said the projects financed by the bank are expected to create job opportunities for about 56, 624 compatriots.
Berhanu further said the bank has collected 1.38 billion birr from the loan it gave out, he said.
Established 105 years ago, the Ethiopian Development Bank has 12 branches and 20 sub-branches across the country.
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